Assumptions

59 registered model inputs. Only 5 are verified — and every one of those is a supply-side or cost fact. No demand-side input is verified, which is exactly what the 90-day plan addresses.

Classification counts

• Verified — 5
• Benchmark — 5
• Assumption — 36
• To be tested — 13

The inputs that decide the outcome

• Advertiser ARPU — base ₹1,499 · conservative ₹999 · upside ₹2,499. Justdial's derived blended figure is ₹1,708/month.
• Trial-to-paid conversion — base 15% · conservative 7% · upside 25%. Justdial converts ~1.14% of listings, but that is passive self-serve; Glow's motion is human and curated.
• Contributor ratio — base 4% · conservative 1.5% · upside 8% of MAU.
• Monthly active retention — base 72% · conservative 60% · upside 82%.
• Advertiser churn — base 5%/month · conservative 9% · upside 3.5%.
• Audience credibility gate — area MAU at which advertisers pay full price: base 4,000.

Scenario discipline

Upside is not every input multiplied. It is three causally linked outcomes: contribution reaches 8%, which makes pages unique, which unlocks organic search, which fills areas faster, which lifts conversion and supported price. Costs rise too.

Founder compensation

Reported in two cases throughout — bootstrap ₹1.5 lakh/month and market reference ₹5 lakh/month. A third sensitivity at ₹1 crore/year reflects what replacing the founder with a hired operator would cost. Break-even is never shown on the bootstrap case alone.

Excluded from the base case

Commerce is an additive layer. Enterprise intelligence, industry reports and private brands are zero — excluded from revenue, break-even and the capital requirement.